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IN HB1240
Bill
Status
1/11/2016
Primary Sponsor
Justin Moed
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AI Summary
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Creates a mandatory registration system for valuable metal dealers effective after December 31, 2016, requiring registration with the department superintendent to conduct business.
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Establishes registration fees of $200 initially and $150 annually for renewal, with fees deposited into the valuable metal dealers registry fund.
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Requires the superintendent to develop and implement a secure database by January 1, 2018 that stores dealer information and transaction data, with search capabilities for law enforcement agencies.
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Allows valuable metal dealers to access the database to search, modify, and update only their own business data; provides free interlink programming for information transfer.
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Creates the valuable metal dealers registry fund with continually appropriated money to the department for administering the chapter, with unexpended funds not reverting to the general fund.
Legislative Description
Data base of valuable metal transactions. Creates the valuable metal dealers registry and data base. Establishes the valuable metal dealers registry and data base fund. Provides that the money in the fund is continually appropriated to the state police department.
Last Action
First reading: referred to Committee on Ways and Means
1/11/2016